(c) Describe the audit procedures you should perform. to determine the validity of the amortisation rate of fiveyears being applied to development costs in relation to Plummet. (5 marks)
(c) Describe the audit procedures you should perform. to determine the validity of the amortisation rate of five
years being applied to development costs in relation to Plummet. (5 marks)
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(b) Using the TARA framework, construct four possible strategies for managing the risk presented by Product 2.Your answer should describe each strategy and explain how each might be applied in the case.(10 marks)
(ii) Explain the organisational factors that determine the need for internal audit in public listed companies.(5 marks)
(ii) Determine whether your decision in (b)(i) would change if you were to use the Maximin and Minimaxregret decision criteria. Your answer should be supported by relevant workings. (6 marks)
(b) Determine whether your decision in (a) would change if you were to use each of the Maximin and Minimaxregret decision criteria.Your answer should be supported by relevant workings. (6 marks)
(b) Describe the principal audit work to be performed in respect of the useful lives of Shire Oil Co’s rig platforms.(6 marks)
(b) Describe the audit work to be performed in respect of the carrying amount of the following items in thebalance sheet of GVF as at 30 September 2005:(i) goat herd; (4 marks)
(c) Explain the extent to which you should plan to place reliance on analytical procedures as audit evidence.(6 marks)
(b) A sale of industrial equipment to Deakin Co in May 2005 resulted in a loss on disposal of $0·3 million that hasbeen separately disclosed on the face of the income statement. The equipment cost $1·2 million when it waspurchased in April 1996 and was being depreciated on a straight-line basis over 20 years. (6 marks)Required:For each of the above issues:(i) comment on the matters that you should consider; and(ii) state the audit evidence that you should expect to find,in undertaking your review of the audit working papers and financial statements of Keffler Co for the year ended31 March 2006.NOTE: The mark allocation is shown against each of the three issues.
(b) Illustrate how you might use analytical procedures to provide audit evidence and reduce the level of detailedsubstantive procedures. (7 marks)
(c) Briefly describe the principal audit work to be performed in respect of the carrying amount of the followingitems in the balance sheet:(i) development expenditure on the Fox model; (3 marks)
(c) Describe the examination procedures you should use to verify Cusiter Co’s prospective financial information.(9 marks)
(b) Explain the principal audit procedures to be performed during the final audit in respect of the estimatedwarranty provision in the balance sheet of Island Co as at 30 November 2007. (5 marks)
(c) (i) Identify and describe FOUR quality control procedures that are applicable to the individual auditengagement; and (8 marks)
(b) (i) Explain the matters you should consider to determine whether capitalised development costs areappropriately recognised; and (5 marks)
(ii) Describe the evidence you would seek to support the assertion that development costs are technicallyfeasible. (3 marks)
(ii) Describe the procedures to verify the number of serious accidents in the year ended 30 November 2007.(4 marks)
4 You are an audit manager in Nate Co, a firm of Chartered Certified Accountants. You are reviewing three situations,which were recently discussed at the monthly audit managers’ meeting:(1) Nate Co has recently been approached by a potential new audit client, Fisher Co. Your firm is keen to take theappointment and is currently carrying out client acceptance procedures. Fisher Co was recently incorporated byMarcellus Fisher, with its main trade being the retailing of wooden storage boxes.(2) Nate Co provides the audit service to CF Co, a national financial services organisation. Due to a number oferrors in the recording of cash deposits from new customers that have been discovered by CF Co’s internal auditteam, the directors of CF Co have requested that your firm carry out a review of the financial informationtechnology systems. It has come to your attention that while working on the audit planning of CF Co, Jin Sayed,one of the juniors on the audit team, who is a recent information technology graduate, spent three hoursproviding advice to the internal audit team about how to improve the system. As far as you know, this advice hasnot been used by the internal audit team.(3) LA Shots Co is a manufacturer of bottled drinks, and has been an audit client of Nate Co for five years. Twoaudit juniors attended the annual inventory count last Monday. They reported that Brenda Mangle, the newproduction manager of LA Shots Co, wanted the inventory count and audit procedures performed as quickly aspossible. As an incentive she offered the two juniors ten free bottles of ‘Super Juice’ from the end of theproduction line. Brenda also invited them to join the LA Shots Co office party, which commenced at the end ofthe inventory count. The inventory count and audit procedures were completed within two hours (the previousyear’s procedures lasted a full day), and the juniors then spent four hours at the office party.Required:(a) Define ‘money laundering’ and state the procedures specific to money laundering that should be consideredbefore, and on the acceptance of, the audit appointment of Fisher Co. (5 marks)
(b) Describe the potential benefits for Hugh Co in choosing to have a financial statement audit. (4 marks)
(b) Describe the principal audit procedures to be carried out in respect of the following:(i) The measurement of the share-based payment expense; (6 marks)
(ii) Identify and explain the principal audit procedures to be performed on the valuation of the investmentproperties. (6 marks)
5 (a) Compare and contrast the responsibilities of management, and of auditors, in relation to the assessment ofgoing concern. You should include a description of the procedures used in this assessment where relevant.(7 marks)
(ii) State the principal audit procedures to be performed on the consolidation schedule of the Rosie Group.(4 marks)
(c) In the context of a standard unmodified audit report, describe the content of a liability disclaimer paragraph,and discuss the main arguments for and against the use of a liability disclaimer paragraph. (5 marks)
Your network contains an Active Directory domain named contoso.com. All domain controllers and member servers run Windows Server 2008. All client computer run Windows 7. From a client computer， you create an audit policy by using the Advanced Audit Policy Configuration settings in the Default Domain Policy Group Policy object （GPO）. You discover that the audit policy is not applied to the member servers. The audit policy is applied to the client computers. You need to ensure that the audit policy is applied to all member servers and all client computers. What should you do（）A、Add a WMI filter to the Default Domain Policy GPOB、Modify the security settings of the Default Domain Policy GPOC、Configure a startup script that runs auditpol.exe on the member servers.D、Configure a startup script that runs auditpol.exe on the domain controllers.
多选题You work as a database administrator for Certkiller .com. In your development environmentenvironment， the developers are responsible for modifying the table structure according to the application requirements. However， you want to keep track of the ALTER TABLE commands being executed by developers， so you enable auditing to achieve this objective. Which two views would you refer to find out the audit information？（）ADBA_AUDIT_TRAILBDBA_AUDIT_SESSIONCDBA_FGA_AUDIT_TRAILDDBA_COMMON_AUDIT_TRAIL